Using RFM model to construct customer value by making segment in different service industries
Keywords:RFM, service industry, customers segment, customer value
This paper uses RFM model to make customers segment by their purchase behavior. Different from previous researches, the author compares various service industries consumptions with the same customer database. It can indicate the dynamic pattern of RFM analysis and portray the diversity of customer value toward a specific customer in all his or her transaction in different situations of service industries. The characteristics of each industry are demonstrated through RFM analysis with customers’ demographic data. Finally, it is shown the application for RFM model which is used in different industries in the conclusion.
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